Lenz Blog: Mongolian bond placed successfully

Ganhuyag reports that the offering of the Development Bank of Mongolia (that is, the Mongolian government) of a $600 million bond oversold, with investors ready to take on $6.25 billion at a price of 5.75 percent, which is cheaper than the original guidance of 6 to 6.25 percent. With a rating of B1/BB-, these are risky. Wikipedia explains these ratings, and B1 (Moody’s) or BB- (Standard and Poor) is “not investment grade”, which is a polite way to say “junk bond”. To read the full article, click hereMongolian bond placed successfully

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